"Dirty money" redirects here. For other uses, see Dirty Money (disambiguation).
Placing 'dirty' money in a service company, where it is layered with legitimate income and then integrated into the flow of money, is a common form of money laundering.
Money laundering is the process of illegally concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source. It is a crime in many jurisdictions with varying definitions. It is usually a key operation of organized crime.
In United States law, money laundering is the practice of engaging in financial transactions to conceal the identity, source, or destination of illegally gained money. In United Kingdom law, the common law definition is wider. The act is defined as "taking any action with property of any form which is either wholly or in part the proceeds of a crime that will disguise the fact that property is the proceeds of a crime or obscure the beneficial ownership of said property".[citation needed]
In the past, the term "money laundering" was applied only to financial transactions related to organized crime. Today its definition is often expanded by government and international regulators such as the US Office of the Comptroller of the Currency to mean "any financial transaction which generates an asset or a value as the result of an illegal act," which may involve actions such as tax evasion or false accounting. In the UK, it does not need to involve money, but any economic good. Courts involve money laundering committed by private individuals, drug dealers, businesses, corrupt officials, members of criminal organizations such as the Mafia, and even states.
As financial crime has become more complex and financial intelligence more important to combating international crime and terrorism, money laundering has become a prominent political, economic, and legal debate. Money laundering is ipso facto illegal; the acts generating the money almost always are themselves criminal in some way (for if not, the money would not need to be laundered).
Moneylaundering is the process of illegally concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement...
The Financial Action Task Force (on MoneyLaundering) ('FATF, aka "Fatfee"), also known by its French name, Groupe d'action financière (GAFI), is an intergovernmental...
accused of launderingmoney for terrorist groups. In June 2015, HSBC was fined by the Geneva authorities after an investigation into moneylaundering within...
the moneylaundering of the illicit funds. The NBI is coordinating with relevant government agencies including the country's Anti-MoneyLaundering Council...
The MoneyLaundering Control Act of 1986 (Public Law 99-570) is a United States Act of Congress that made moneylaundering a federal crime. It was passed...
The Black Mafia Family (BMF) is a drug trafficking and moneylaundering organization in the United States. It was founded in 1985, in Southwest Detroit...
moneylaundering fine on Bank of Singapore arm". Luxembourg Times. Retrieved 1 December 2022. "OCBC unit's Dubai branch fined US$1.12m for anti-money...
The Danske Bank moneylaundering scandal arose in 2017-2018, when it became known that around €800 billion of suspicious transactions had flowed from Estonian...
unknowingly launder their money. Currently[when?], there are only around 1,200 moneylaundering convictions per year in the United States and moneylaunderers face...
being a "willful defaulter" under Indian law, including accusations of moneylaundering, misappropriation, etc. In March 2016, a consortium of banks approached...
for the U.S. dollar. Moneylaundering is the process in which the proceeds of crime are transformed into ostensibly legitimate money or other assets. However...
2023, the company pleaded guilty in a U.S. federal court to moneylaundering, unlicensed money transmitting, and sanctions violations. In 2021, Binance was...
engage in moneylaundering to protect themselves from prosecution and the forfeiture of their illicit proceeds. Money is typically "laundered" in three...
January 2002 for the purpose of curbing moneylaundering. However, despite government efforts to combat moneylaundering, regulation of banking is still developing...
component of a larger crime. The larger crime may be racketeering, moneylaundering, financing of terrorism, etc. For example, to violate the Racketeer...
cryptocurrency to conduct moneylaundering. Especially ICOs lacking KYC guidelines and anti-moneylaundering procedures are often used to launder illicit funds due...
suspended prison sentence in 2023 for his involvement in an "elaborate moneylaundering system" in France. The brand is active in Australia, Austria, Belgium...
exchange violation against him. He was detained and questioned for moneylaundering by the ED in 2020. Goyal was arrested by the ED in September 2023 after...
of ICICI Bank agreeing to convert black money into white, an act in violation of Prevention of MoneyLaundering Act, 2002. The Government of India and...
Mossack Fonseca employees, including the two founders, went to trial on moneylaundering charges in Panama City, Panama. In addition to the much-covered business...
Global Information